Record Financial Performance
Orthofix achieved record fourth quarter and full-year results in 2024, exceeding guidance with net sales of $215.7 million, reflecting an 8% year-over-year growth on a constant currency basis.
Spine Segment Growth
The U.S. spinal fixation business grew 12% year-over-year, with significant growth in the top 6 implant systems, thoracolumbar fixation, and interbody and cervical fusion.
Expansion of Bone Growth Therapy
Bone Growth Therapy (BGT) achieved record revenue and market expansion with a 9% growth in Q4, maintaining the #1 market share position in Spine and driving 10% growth in BGT Fracture.
Orthopedics Segment Achievements
The orthopedics business saw an 18% growth in Q4 with U.S. sales reaching a record 21% increase, led by products like TrueLok and Fitbone.
Innovation and Product Launches
Orthofix continued to innovate with several product launches planned for 2025, including the Reef L Lateral Lumbar Interbody and the TrueLok Elevate TBT system.
Positive Cash Flow and Financial Health
The company generated $21 million in positive free cash flow in the second half of 2024 and negotiated a favorable new term loan.